REG - Belvoir Group PLC - Grant of Options
01/06/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230601:nRSA2284Ba&default-theme=true
RNS Number : 2284B Belvoir Group PLC 01 June 2023
1 June 2023
BELVOIR GROUP PLC
(the "Company", the "Group" or "Belvoir")
Grant of share options
Belvoir Group PLC (AIM:BLV), a leading UK property franchise group, today
announces that it has granted nil cost options over 373,400 new ordinary
shares in the Company to its Executive Directors and members of its senior
management team under the Belvoir Group Performance Share Plan. The awards
reflect their roles and responsibilities in determining and executing the
Group strategic growth plans and are intended to retain and incentivise the
executive directors and senior management team accordingly.
These awards will be 100% subject to an EPS Performance Condition: the
cumulative diluted earnings per share ("EPS"), adjusted to exclude exceptional
items for the three years to 31 December 2025.
A floor of 57.8p per share and a cap of 66.5p per share applies to the EPS
Performance Condition. The floor requires the Belvoir Group to achieve the
cumulative diluted adjusted EPS for the three years to 31 December 2025 as per
the current market forecast for that period. The cap requires the Group to
exceed the cumulative diluted adjusted EPS for the three years to 31 December
2025 as per the current market forecast by 15%. Where performance is below
the floor, no options will vest; where performance is at the floor, 25% of the
options will vest; and where performance is at or above the cap, 100% will
vest. Straight-line vesting applies between the floor and the cap.
The maximum awards for directors and PDMRs are stated below:
Name
Position
Number of shares
subject to awards
Dorian Gonsalves Chief Executive Officer, Belvoir
Group
PLC
114,350
Louise George Chief Financial Officer,
Belvoir Group
PLC
104,630
Michelle Brook Financial Services
Director, Belvoir Group
PLC 65,620
Philip Gee Managing
Director, Northwood GB
Limited
9,000
David Spackman Managing Director, Newton
Fallowell
Limited
9,000
Ian Maclean Franchise
Director, Belvoir Property Management (UK) Limited 9,000
Tim Wood Financial
Services Director, Brook Financial Services
Ltd 7,200
Julie Wilson Group
Financial Controller, Belvoir Group
PLC
7,200
Immediately prior to these awards the Company's issued share capital was
37,304,437 ordinary shares and there were outstanding CSOP options of 201,040
and LTIP options of 861,407.
Further details on these grants are included in the notifications below, made
in accordance with the requirements of the EU Market Abuse Regulation which is
part of English law by virtue of the European Union (Withdrawal) Act 2018.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Dorian Gonsalves Louise George
2 Reason for notification
a. Position/Status Chief Executive Officer, Chief Financial Officer,
Belvoir Group PLC
Belvoir Group PLC
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI 213800FPT3JTZYB3FP61 213800FPT3JTZYB3FP61
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the financial instrument, type of instrument Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nil cost options Grant of nil cost options
c. Price(s) and volume(s)
Price Volume Price Volume
nil 114,350 nil 104,630
d. Aggregated information n/a
- Aggregated Volume
n/a n/a
- Price
n/a
e. Date of the transaction 31 May 2023 31 May 2023
f. Place of the transaction Off market Off market
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Michelle Brook Philip Gee
2 Reason for notification
a. Position/Status Financial Services Director, Managing Director,
Belvoir Group PLC
Northwood GB Limited
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI 213800FPT3JTZYB3FP61 213800FPT3JTZYB3FP61
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the financial instrument, type of instrument Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nil cost options Grant of nil cost options
c. Price(s) and volume(s)
Price Volume Price Volume
nil 65,620 nil 9,000
d. Aggregated information n/a n/a
- Aggregated Volume
n/a n/a
- Price
e. Date of the transaction 31 May 2023 31 May 2023
f. Place of the transaction Off market Off market
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name David Spackman Ian Maclean
2 Reason for notification
a. Position/Status Managing Director, Franchise Director,
Newton Fallowell Limited
Belvoir Property Management (UK) Limited
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI 213800FPT3JTZYB3FP61 213800FPT3JTZYB3FP61
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the financial instrument, type of instrument Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nil cost options Grant of nil cost options
c. Price(s) and volume(s)
Price Volume Price Volume
nil 9,000 nil 9,000
d. Aggregated information n/a
- Aggregated Volume
n/a n/a
- Price
n/a
e. Date of the transaction 31 May 2023 31 May 2023
f. Place of the transaction Off market Off market
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Julie Wilson Tim Wood
2 Reason for notification
a. Position/Status Group Financial Controller, Financial Services Director,
Belvoir Group PLC
Brook Financial Services Ltd
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI 213800FPT3JTZYB3FP61 213800FPT3JTZYB3FP61
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the financial instrument, type of instrument Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nil cost options Grant of nil cost options
c. Price(s) and volume(s)
Price Volume Price Volume
nil 7,200 nil 7,200
d. Aggregated information n/a
- Aggregated Volume
n/a n/a
- Price
n/a
e. Date of the transaction 31 May 2023 31 May 2023
f. Place of the transaction Off market Off market
For further details:
Belvoir Group PLC 01476 584900
Dorian Gonsalves, Chief Executive Officer investorrelations@belvoirgroup.com
Louise George, Chief Financial Officer
www.belvoirgroup.com (http://www.belvoirgroup.com)
finnCap +44 (0) 20 7220 0500
Julian Blunt, Teddy Whiley (Corporate Finance)
Tim Redfern, Charlotte Sutcliffe (ECM)
www.finncap.com (http://www.finncap.com)
Buchanan +44 (0) 20 7466 5000
Charles Ryland, Jack Devoy
Notes to editors:
About Belvoir Group PLC
Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a
nationwide property franchise Group with 487 offices across seven brands
specialising in residential lettings, property management, residential sales
and property-related financial services. With its Central Office in Grantham,
Lincolnshire, the Group manages 75,500 properties and reported record revenues
of £33.7m in 2022 marking Belvoir's 26(th) year of unbroken profit growth.
For further information, please visit: www.belvoirgroup.com
(http://www.belvoirgroup.com/)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DSHSDFFIFEDSEIIRecent news on Belvoir
See all newsREG - AIM Belvoir Group PLC - Cancellation - Belvoir Group PLC
AnnouncementREG - Takeover Panel - Disclosure Table
AnnouncementREG - Takeover Panel - Disclosure Table
AnnouncementREG - Belvoir Group PLC Property FranchiseGp - SCHEME OF ARRANGEMENT EFFECTIVE
AnnouncementREG-Apex Fundrock Limited Form 8.3 - Apex Fundrock Limited : Re Belvoir Lettings Plc
Announcement